Fedex has announced it's intention to buy PAFEX

MUMBAI, India--(BUSINESS WIRE)--November 02, 2006 FedEx Corporation (NYSE: FDX) announced today that its FedEx Express unit has signed an agreement to acquire its Indian service provider, Prakash Air Freight Pvt. Ltd. (PAFEX) for US$30 million, payable in cash. The transaction, which is subject to customary conditions including Indian government approval, will further extend the FedEx leadership position in the global express industry with a wholly-owned operation in one of the world's fastest growing markets.

More at http://www.fedex.com

Regards, PanAm_DC10